BEIJING, Oct. 25 (Xinhuanet) -- With the US presidential elections looming ahead, the Federal Reserve has stressed that help is still needed to increase growth and lower unemployment.
The Fed said that it needs time to assess whether steps launched last month will help the economy. Last Month, the Fed began buying mortgage bonds to try to push long-term interests rates lower, and make home buying more affordable. It also planned to keep its benchmark short-term rate near zero through mid-2015.
In a statement made Wednesday, the Fed said despite a moderately improving economy, job growth has been slow and the unemployment rate remains elevated.
